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Coloured Ties Capital Requisitions a Shareholder Meeting of Labrador Gold Corp. to Bring the Company into Compliance with Corporate Legislation and Address Necessary Leadership Changes
Vancouver, British Columbia--(Newsfile Corp. - November 19, 2025) - Coloured Ties Capital Inc. (T...
About this update from Coloured Ties Capital Inc
[{"type":"text","content":"Coloured Ties Capital Requisitions a Shareholder Meeting of Labrador Gold Corp. to Bring the Company into Compliance with Corporate Legislation and Address Necessary Leadership ChangesVancouver, British Columbia--(Newsfile Corp. - November 19, 2025) - Coloured Ties Capital Inc. (TSXV: TIE) (OTC Pink: APEOF) (FSE: 97A0) (\"CTI\" or the \"Company\"), announces today that it has, together with Kal Malhi, Rauni Malhi (the \"Concerned Shareholders\"), a group of shareholders holding more than 5% of the issued and outstanding common shares of Labrador Gold Corp. (TSX.V: LAB) (OTCQB: NKOSF) (FNR: 2N6) (\"Labrador\"), requisitioned a special meeting of shareholders (the \"Meeting\") of Labrador pursuant to section 105 of the Business Corporations Act (Ontario) (\"OBCA\").In addition to Labrador's current board and management's continued failure to execute on any viable commercial opportunity in the resource sector, Labrador is also in significant breach of its obligations under applicable corporate legislation. Labrador's last annual meeting of shareholders was held on June 27, 2024. Under subsection 94(1)(a) of the OBCA, the Corporation was required to hold its next annual meeting no later than September 27, 2025. Despite this, the Corporation announced on August 13, 2025 that it intended to hold an annual general and special meeting of shareholders on December 2, 2025, well past the statutory deadline.Further, Labrador has failed to fix a record date for the proposed meeting and has not delivered a notice of meeting or accompanying materials to shareholders in advance of the announced December 2, 2025 meeting date, for which the deadline for mailing proxy materials has passed. The only conclusion from this inaction is that Labrador did not intend to hold the proposed meeting. The failure to hold any meeting of shareholders for more than 16 months constitutes a breach of the OBCA and reflects a broader pattern of non-compliance and negligence of basic fiduciary duties by Labrador and an entrenchment of Labrador's leadership.The Meeting requisition requests that a meeting of shareholders be held as soon as practicable, and in any event no later than January 18, 2025, to bring Labrador in compliance with corporate legislation and shareholders meeting obligations while ensuring that Labrador can pursue a credible plan to enhance value for...